BranchSave MoneyManager (statement)
Pay bills, transfer money - everything you need to manage your money day to day at any of our branches.
Effective from 1st November 2008
|
Account name | BranchSave MoneyManager (statement) |
Interest rates (AERs) | The interest rate is variable. For details see the table above.
|
Tax status | Interest is paid net of tax unless a form R85 is completed.
|
Conditions for bonus payment | Not applicable.
|
Withdrawal arrangements | This is an instant access account.
|
Access | This account is branch based. You may also choose to operate it by telephone or online.
|
Interest
Interest is paid annually on 31st March.
How to apply
- Apply in person in any of our branches, telephone us, or apply online at www.thecoventry.co.uk.
- The minimum balance is £100 and the maximum balance is £250,000.
Using your account
- Making a deposit, or setting up a new instruction - it's all just a matter of calling into any of our branches.
- You'll automatically receive a CashLink card.
- And we'll provide a statement each quarter to make sure you keep up to date with your money.
Paying money in
- Cash or cheque at any of our branches.
- Standing order - arrange a standing order with your bank or building society to pay a regular amount of money into your account.
- Post - just post a cheque to us.
- CashLink card - You can use your CashLink card to pay in cheques or notes at any ATM (Automated Teller Machine) based at any of our branches.
- Transfer - transfer money to this account from another Coventry account.
Withdrawals
- Cash - over the counter at a branch.
- Cheque - at a branch or by post.
- Use your CashLink card in the UK to withdraw cash from any ATM displaying the LINK, VISA or PLUS symbol, or abroad at any ATM displaying VISA or PLUS (you will need to contact us to use your card abroad).
- Standing order or one-off standing order.
- Direct Debit - to pay for regular bills.
- Transfer - of course you can transfer money to another Coventry account.
Notes
1. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
2. The minimum opening balance is also the minimum level at which the account should be operated. If the balance of an account falls below the minimum stated, and the Society has not exercised its right to close the account, the interest rate paid will be our basic variable investment rate currently 0.10% AER/gross p.a., 0.08% net. If the balance falls below £100, and the account is not being closed, a charge of £1 for each counter withdrawal and 50p per standing order or direct debit will be made.
3. Interest is calculated gross, which means before tax has been deducted. Interest is usually paid net of tax (after tax has been deducted at the current rate of 20%). If you are taxed at the basic rate you should have nothing more to pay. If you are a higher rate tax payer you are likely to have to pay more tax.
Non-taxpayers can register to have their interest paid gross by completing a form R85 for each account and each account holder, (if both are entitled to have interest paid gross). Tax may be reclaimed from HM Revenue & Customs where the amount deducted exceeds an investor's liability to tax. If you are in any doubt about your tax position please contact your local tax office.
4. Please refer to the account terms and conditions and the MoneyManager Account leaflet for full details of the account. Details of any charges applicable to the account are available on request from any branch, by telephone or on our website.
Coventry Building Society, Economic House, PO Box 9, High Street, Coventry, CV1 5QN.
